Fintech News: July 8th, 2016

Just 1% to 4% of 401(k) participants take advantage of brokerage windows, but more and more 401(k) plans are starting to offer them. For plans, brokerage windows are an easy way to slim down their core offerings while still letting participants invest in the funds they used before.

One of the largest social trading networks returned from a long weekend with big news: $2 Million in new funding and a new CEO, Ian Rosen. Rosen has a background in supply-side lending, at Even Financial, and finance media, from his time at MarketWatch. Howard Lindzon, StockTwits’ former CEO, will remain active as chairman.

While it lags behind Hong Kong in traditional financial services, Singapore is setting itself up to be the fintech leader. State funding, light regulations, and opportunities for start-ups to test their products in sandboxes have all been part of the city-state’s aggressive approach towards attracting fintech investments.

In financial services, mobile is evolving from just a channel to the heart of the relationship between the institution and the customer. It is quickly replacing the physical branch for many functions, and banks are struggling to keep up, especially the smaller ones. Next on their plate? Omni-channel capabilities, which let customers begin an application on one device, and finish it on another.